The allure of vacation rentals is on the rise among Asian travelers, with an 84% increase in bookings between 2022 and 2023, according to travel recommendation startup Trip101. This trend extends across 16 Asian countries, including China, India, Japan, Indonesia, Malaysia, Singapore, and Thailand, signifying a growing preference for alternative accommodations.
This surge in bookings doesn’t appear to be an isolated phenomenon, as data from the past four years suggests a sustained upward trajectory in the Asian vacation rental market.
But it’s not just the volume of bookings that’s indicative of market growth; the average length of stays has also increased since the pre-pandemic era.
Trip101 noted, “Following U.S. and Europe’s footsteps, the average booking value in Asia saw a 20% increase as well, from pre- to post-pandemic years.” This shift is underscored by the extension of the average stay from 2.5 nights before the pandemic to a 3-night average stay. It suggests that travelers are now willing to invest more in longer stays, seeking enhanced experiences.
The pandemic’s influence on travel preferences and lifestyle choices has played a pivotal role in this growth. As Trip101 points out, “The pandemic catalyzed a significant shift in lifestyle and travel preferences by enabling remote work.” The newfound freedom to work from anywhere has empowered travelers to adopt a more flexible style, blending work with leisure and exploring new destinations while honoring professional commitments. This shift has given rise to travel trends such as “workation,” “bleisure travels,” and “digital nomadism.”
The travel industry in Asia has been in a state of revival for some time. Various reports in the past year have highlighted the region’s rebound after extended border closures and COVID-19-related restrictions.